Lagos cable car PPP

12/2/2016
PPP, Project finance

$ 275 million

Announced

12/2/2016


Overview:

  • The Lagos State Government and Lagos Metropolitan Area Transport Authority (LAMATA) have awarded a 30-year PPP (public-private partnership) contract to Ropeways Transport to develop a cable car transportation system in Lagos to ease the city's commuter congestion problems. 
  • The deal is being partially funded by a project finance facility from the Africa Development Bank. 
  • Construction of the project began in September 2016. 

Ben Naylor - Regional editor

Jurisdiction:

Nigeria

Deal types:

PPP
Project finance

Practice areas:

Project finance
Project development
PPP/PFI

Governing laws:

England and Wales
Nigeria

Industry sector:

Transport


Firms:

Party: African Development Bank (Lender)

Lawyer: Kofo Dosekun


Party: Ropeways Transport (Project company)


Party: African Development Bank (Lender)


Party: Ropeways Transport (Project company)